Trejhara Solutions Limited (TREJHARA)

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Trejhara Solutions Limited (TREJHARA) · mywealthgrid

About

Small-cap IT software firm (₹394.66 Cr) in computer services and enterprise consulting. Serves corporates but lacks cost structure of larger peers.

Face value: ₹10

Market cap

₹317 Cr

P/E

24.8×

P/B

1.1×

Dividend yield

ROE

3.3%

ROCE

4.6%

Debt / equity

0.07

OPM

5.5%

EPS (TTM)

₹5.3

Book value

₹123.4

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margins whip 0.63%–9.83% across recent quarters. Signals operational instability or reporting complexity.
ROE 3.26% — abysmal for IT sector. Destroys shareholder capital persistently.
Stock down 23.83% in 12 months; trades near 52-week lows (₹130.83–₹276.2). Deep investor skepticism.
Institutional investors near-absent (FII 0.01%, DII 0%). Verify: small-cap status, governance risk, or coverage gap.

Generated analysis · source review pending

Growth drivers

Consolidated business hits 9.83% OPM vs 5.5% blended. Verify if higher-margin segment scales; mix shift could boost returns.
Margins stabilizing toward high end (0.63%–9.83% range) would signal operational stabilization. Track quarterly.
D/E 0.07 is low. Verify if deploying balance sheet for growth investments or preserving due to revenue uncertainty.

Generated analysis · source review pending

1,913 historical price candles were omitted because the exchange source has not been verified.

₹129.0-4.9%1Y

Quick read

rule-based

Pros

+Revenue CAGR of 21.3% over the last 5 years
+Almost debt-free (debt/equity 0.1)
+Comfortable interest coverage of 11.2×

Cons

−Low return on equity of 4.7% (3-yr avg)
−Thin operating margin of 5.5%
−Profit declined 5.1% a year over the last 5 years

Research score

Structured signal from quality, growth, valuation and momentum.

64/100

Business quality: 34
Growth: 100
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Persistent Systems LimitedPERSISTENTPERSISTENT	₹84,691 Cr	₹84,691 Cr	₹15,718 Cr	₹2,881 Cr	19%	₹1,923 Cr	12.7%	34.2%	26.3%	48
Coforge LimitedCOFORGECOFORGE	₹80,837 Cr	₹81,237 Cr	₹18,152 Cr	₹3,397 Cr	17.9%	₹1,717 Cr	10.6%	22.2%	19.7%	88
Mphasis LimitedMPHASISMPHASIS	₹42,956 Cr	₹44,749 Cr	₹16,531 Cr	₹3,071 Cr	18.8%	₹1,910 Cr	11.7%	24.7%	18.3%	58
Hexaware Technologies LimitedHEXTHEXT	₹29,966 Cr	₹29,966 Cr	₹14,420 Cr	₹2,155 Cr	14.2%	₹1,344 Cr	10.2%	—	—	—
Tata Elxsi LimitedTATAELXSITATAELXSI	₹19,268 Cr	₹19,268 Cr	₹3,886 Cr	₹876 Cr	22.5%	₹655 Cr	16.7%	29.9%	21.3%	-54
Fractal Analytics LimitedFRACTALFRACTAL	₹12,510 Cr	₹12,796 Cr	₹3,300 Cr	₹508 Cr	15.4%	₹292 Cr	8.7%	15.3%	11.8%	61
Rategain Travel Technologies LimitedRATEGAINRATEGAIN	₹9,953 Cr	₹10,875 Cr	₹2,336 Cr	₹459 Cr	18.5%	₹242 Cr	10.7%	13.8%	10.5%	36
Zensar Technologies LimitedZENSARTECHZENSARTECH	₹9,881 Cr	₹9,881 Cr	₹5,811 Cr	₹926 Cr	16.1%	₹776 Cr	13.6%	23%	17.6%	31
ASM Technologies LtdASMTECASMTEC	₹9,641 Cr	₹9,754 Cr	₹529 Cr	₹101 Cr	19.1%	₹26 Cr	11.5%	33.3%	25.7%	202
Intellect Design Arena LimitedINTELLECTINTELLECT	₹8,566 Cr	₹8,566 Cr	₹3,182 Cr	₹603 Cr	19.1%	₹351 Cr	11.3%	15.6%	11.6%	46
Birlasoft LimitedBSOFTBSOFT	₹7,542 Cr	₹7,551 Cr	₹5,404 Cr	₹930 Cr	16.3%	₹573 Cr	9.8%	21.2%	13.7%	63
Sonata Software LimitedSONATSOFTWSONATSOFTW	₹7,124 Cr	₹7,692 Cr	₹11,015 Cr	₹752 Cr	6.9%	₹463 Cr	4.3%	32.4%	25.7%	-19

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	77	58	54	58	69	23	28	142
	61	48	40	44	54	17	23	134
	16	10	14	15	15	6	6	8
OPM %	20.9%	17.3%	26.5%	25.2%	21.8%	26.6%	20.7%	5.5%
Depreciation	1	1	1	1	89	4	4	4
Interest	6	5	2	2	2	1	0	1
	6	4	2	2	-225	20	3	8
Profit before tax	15	8	13	14	-301	21	5	11
Tax	3	1	2	3	-2	1	2	2
Tax %	20.6%	15.6%	12.7%	19.6%	-0.6%	4.6%	36.4%	18.4%
	12	7	11	11	-299	20	3	9
PAT margin %	15.9%	11.9%	20.5%	19.2%	-435.1%	86.3%	11.6%	6.1%
EPS (₹)	11.2	5.9	9.4	9.5	-253.2	15.5	2.3	3.7
EPS adjusted (₹)	10.4	5.9	9.4	9.5	-253.1	13.6	2.3	3.5
	4.5%	0%	0%	5.3%	—	0%	0%	—
Annual report	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	12	12	12	12	12	12	15	15	24
Reserves	132	394	441	447	464	186	207	211	273
Minority interest	—	—	—	—	—	—	—	—	0
	78	51	28	33	24	18	1	0	22
	294	75	116	88	111	130	19	12	76
Total equity & liabilities	516	532	596	580	610	346	241	237	396
	4	3	2	2	1	32	22	26	158
CWIP	—	—	—	—	—	0	0	0	0
Investments	0	0	0	0	0	0	1	0	0
	512	528	594	578	609	314	217	211	238
Total assets	516	532	596	580	610	346	241	237	396

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—	—	—	—
EBITDA margin %	20.9%	17.3%	26.5%	25.2%	21.8%	26.6%	20.7%	5.5%
EBIT margin %	19.7%	15.6%	23.9%	23.1%	-107.2%	8.8%	7.2%	2.7%
PAT margin %	15.9%	11.9%	20.5%	19.2%	-435.1%	86.3%	11.6%	6.1%
Working capital
Receivable days	140	166	158	157	92	217	104	86
Inventory days	—	—	0	0	0	0	0	0
Payable days	—	—	63	42	39	193	133	88
NWC days	—	—	95	115	53	24	-29	-2
Leverage
Current ratio	2.96	3.07	3.66	3.2	1.23	6.92	11.2	1.52
Debt to EBITDA	3.15	2.76	2.31	1.64	1.23	0.14	0	2.8
Debt to equity	0.13	0.06	0.07	0.05	0.09	0	0	0.07
Interest coverage	3.6	2.7	7.6	9.8	-33.2	3.6	35.5	11.2
Asset turnover	0.15	0.1	0.09	0.1	0.2	0.09	0.12	0.36
Return ratios
Return on assets %	2.3%	1.2%	1.9%	1.8%	-86.4%	8.2%	1.4%	2.2%
Return on capital employed %	5%	2.9%	3%	3.1%	-20.4%	1.7%	2.4%	4.6%
Return on equity %	3%	1.5%	2.4%	2.4%	-150.9%	8.9%	1.5%	2.9%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	30%	28.34%	23.07%	23.07%	23.07%	23.07%	23.07%	23.07%	23.07%	23.07%	33.87%	33.87%
	0.03%	0%	0%	0%	1.38%	1.38%	1.43%	1.78%	1.39%	0.05%	0.02%	0.01%
DII	0.22%	0.22%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	69.75%	71.44%	76.93%	76.93%	75.55%	75.55%	75.5%	75.15%	75.54%	76.88%	66.11%	66.12%
No. of shareholders	—	—	—	—	—	—	—	—	9,767	9,700	9,494	9,573

Promoter holding up 3.87 percentage points since Sep 2023.

1 disclosure

Person	Deal	Shares	Value	Holding	Filed
VIMAL GAMBHIRBHAI GARACHHKey Managerial Personnel	BuyMarket Purchase	11,440	₹20.68 L	0.09% → 0.17%	1 Oct 20257(2)

Disclosed under SEBI’s insider-trading regulations, which require a filing only above ₹10 lakh in a quarter — smaller dealings are in no disclosure. Holdings are the filer’s own percentages, not recomputed.

35 deals · 25 Nov 2021 – 15 Apr 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
15 Apr 2025	SRESTHA FINVEST LIMITED	Bulk	NSE	Buy	1,53,073	₹255.91	₹3.92 Cr
15 Apr 2025	SRESTHA FINVEST LIMITED	Bulk	NSE	Sell	96,073	₹255.27	₹2.45 Cr
11 Apr 2025	SRESTHA FINVEST LIMITED	Bulk	NSE	Buy	1,16,924	₹208.20	₹2.43 Cr
11 Apr 2025	SRESTHA FINVEST LIMITED	Bulk	NSE	Sell	24,766	₹203.76	₹0.50 Cr
20 Dec 2023	AMIT RAMESH SHETH	Bulk	NSE	Sell	96,160	₹200.90	₹1.93 Cr
18 Dec 2023	EPITOME TRADING AND INVESTMENTS	Bulk	NSE	Buy	1,00,000	₹193.15	₹1.93 Cr
18 Dec 2023	AMIT RAMESH SHETH	Bulk	NSE	Sell	1,00,000	₹193.15	₹1.93 Cr
8 Jun 2023	MULTIPLIER SHARE & STOCK ADVISORS PRIVATE LIMITED	Bulk	NSE	Buy	60,000	₹73.08	₹0.44 Cr
8 Jun 2023	MULTIPLIER SHARE & STOCK ADVISORS PRIVATE LIMITED	Bulk	NSE	Sell	30,000	₹78.00	₹0.23 Cr
2 Jun 2023	MULTIPLIER SHARE & STOCK ADVISORS PRIVATE LIMITED	Bulk	NSE	Sell	2,15,109	₹66.95	₹1.44 Cr

1–10 of 35

1 / 4

Mr. AMIT SHETHExecutive Director-Chairperson
Mr. PARESH ZAVERINon-Executive - Non Independent Director
Mr. MAHENDRA MEHTANon-Executive - Independent Director
Ms. CHETANA DASARENon-Executive - Independent Director
Mr. TUSHAR KANTILAL RANPARANon-Executive - Independent Director
Mr. SNEHAL ARVIND PANDITNon-Executive - Non Independent Director
Mr. Vimal Garachh GarachhChief Financial Officer
Mr. Shardul InamdarCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Trejhara Solutions Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

2

Dividend dividend16 Sept 2022 · ex-date₹0.5
Dividend dividend12 Sept 2019 · ex-date₹0.5

1

Board meeting to consider results4 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

75 announcementsExport CSV

28 Sept 2026, 3:05 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—	—	—	—
EBITDA margin %	20.9%	17.3%	26.5%	25.2%	21.8%	26.6%	20.7%	5.5%
EBIT margin %	19.7%	15.6%	23.9%	23.1%	-107.2%	8.8%	7.2%	2.7%
PAT margin %	15.9%	11.9%	20.5%	19.2%	-435.1%	86.3%	11.6%	6.1%
Working capital
Receivable days	140	166	158	157	92	217	104	86
Inventory days	—	—	0	0	0	0	0	0
Payable days	—	—	63	42	39	193	133	88
NWC days	—	—	95	115	53	24	-29	-2
Leverage
Current ratio	2.96	3.07	3.66	3.2	1.23	6.92	11.2	1.52
Debt to EBITDA	3.15	2.76	2.31	1.64	1.23	0.14	0	2.8
Debt to equity	0.13	0.06	0.07	0.05	0.09	0	0	0.07
Interest coverage	3.6	2.7	7.6	9.8	-33.2	3.6	35.5	11.2
Asset turnover	0.15	0.1	0.09	0.1	0.2	0.09	0.12	0.36
Return ratios
Return on assets %	2.3%	1.2%	1.9%	1.8%	-86.4%	8.2%	1.4%	2.2%
Return on capital employed %	5%	2.9%	3%	3.1%	-20.4%	1.7%	2.4%	4.6%
Return on equity %	3%	1.5%	2.4%	2.4%	-150.9%	8.9%	1.5%	2.9%

Date	Category	Subject	Filing
28 Sept 2026, 3:05 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
22 Sept 2026, 12:56 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
21 Sept 2026, 5:01 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
30 Aug 2026, 12:06 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
28 Aug 2026, 8:00 pm	Company Update General	Letter To Shareholders In Relation To Annual Report Of The Company For The Financial Year 2025-26	PDF
28 Aug 2026, 7:45 pm	AGM/EGM AGM	Please Find Enclosed Herewith The Notice Of 09 Annual General Meeting Along With Annual Report For The Financial Year 2025-26	PDF
28 Aug 2026, 7:38 pm	Others Reg. 34 (1) Annual Report	Reg. 34 (1) Annual Report.	PDF
18 Aug 2026, 2:33 pm	AGM/EGM Postal Ballot	Trejhara Solutions Ltd - 542233 - Shareholder Meeting / Postal Ballot-Scrutinizer"s Report	PDF

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-16	36	16	-0	11	19	-123	6	-6
	-2	-7	-6	3	0	-10	137	-2	-52
	17	-28	-9	-3	-11	-8	-14	-2	65
Net cash flow	-1	-0	1	-1	0	1	0	3	6
Free cash flow	—	—	—	-0	11	18	-126	6	-7
CFO / Operating profit %	—	220.1%	154.4%	-0.5%	76.9%	123.7%	—	107.3%	-82.6%

Trejhara Solutions Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

2

1

Announcements

2

1

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Compounded sales growth

Compounded profit growth

Return on equity

Trejhara Solutions Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Insider dealing

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

Dividends2

Board meetings1

Announcements

Dividends2

Board meetings1

Ratio timeline

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Quarterly record

Insider dealing

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

2

1

2

1